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Productivity Management

Productivity Management

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Published by Gajendra Jaiswal

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Published by: Gajendra Jaiswal on Jun 23, 2012
Copyright:Attribution Non-commercial

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04/04/2013

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PRODUCTIVITY MANAGEMENT
 
Productivity represents goods and services producedin relation to the resources utilised in theirproduction.
Higher productivity means efficient use of inputs andvice versa.
According to Peter F Drucker
, “Productivity
represents the balance between all factors of production that will give the greatest output at the
smallest effort.”
 
 
Advantages of higher productivity
1.Increase in the efficiency of various factors of production.2.Economic use of various factors of production;decreases the cost of production.3.Decrease in overhead costs.4.Better quality of goods at lower price; increasesstandard of living.5.Increase profits.6.Increase in wages and salaries to employees.7.Better economic strength and stability of the enterprise.8.Overall growth of the economy.

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